According to Industry Experts, the National Green Hydrogen Mission represents a “significant step” towards reaching the country’s net zero targets. It will reduce input costs for clean energy sources and create lakhs of jobs in the renewable energy sector, reports PTI.
On January 4, the Union Cabinet approved the National Green Hydrogen Mission. This mission aims to make India a global manufacturing center and clean source of electricity.
The Mission also aims to develop a production capacity of at minimum 5 MMT per annum, with an associated renewable power capacity addition of approximately 125 GW by 2030.
“I believe that India’s emphasis on demand creation, incentives, and partnerships will help to kick-start the green hydrogen sector and allow Indian companies to compete with global energy suppliers.
Sumant Sinha (Chairman and CEO of ReNew Power) stated that “The industry is ready for India’s clean power transition.”
Sinha, also president of Assocham, called the launch of this mission “a significant step towards helping India reach net-zero goals.”
Ishver Dholakiya, MD at Goldi Solar, stated that the program will allow for production, utilisation and export as well as the creation of thousands of jobs in the renewable energy sector.
He said that the incentives will lower the cost of electrolysers and other input materials, which will allow local players to be more competitive on a global scale.
Girishkumar Kadam, Senior Vice President & Co–Group Head – Corporate Ratings, ICRA Ltd stated that the availability of renewable energy at affordable rates is crucial for improving the use of electrolysers.
He stated that it was crucial for the timely implementation of the PLI scheme to encourage/promote domestic production of electrolysers.
Ex-CMD at NHPC, Abhay Kumar Singh said that per kilogram of hydrogen, the current cost, is approximately USD 3. It will drop to less than half with the government’s ambitious mission.
He stated that the company had entered into an agreement with Himachal to develop a pilot project for green hydrogen mobility, including hydrogen production, in April 2022.
Singh stated that the mission will boost investment sentiments among more and more interest-players.
